Law360, New York (October 27, 2014, 4:12 PM EDT) -- Layne Christensen Co. on Friday agreed to pay over $5 million to settle charges of bribery, false record keeping and inadequate internal controls brought by the U.S. Securities and Exchange Commission against the global water management, construction and drilling company for its payments to African officials.
On Friday, the SEC announced a cease-and-desist order instituting settled administrative proceedings against the Texas-based company for its violations of the Foreign Corrupt Practices Act in several African countries between 2005 and 2010, which included: making $768,000 in improper payments to foreign officials to reduce its tax liability by $3.2 million, sidestepping customs laws on...
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